AMD reports net loss

This first quarter has seen profits fall for AMD, who have reported an operating loss of $46 million for the period. Blaming fierce competition and pricing pressures in the memory space, AMD's sales for the first quarter 2005 amounted to $1.23 billion, slightly down from $1.24 billion recorded last year. Net results were sharply down from an income of $45 million to a loss of $46 million.

"Our microprocessor business delivered record sales in what is typically a seasonally down quarter, driven by increased sales across all product categories. We continued to gain momentum with year-over-year sales growth of 31 percent, highlighted by Opteron and Athlon 64 processor sales, each of which more than doubled from a year ago." - Robert J. Rivet, AMD's chief financial officer.